The UK’s Financial Conduct Authority has approved the crypto operations of Revolut Ltd., a key step for the British fintech’s ambitions to expand in the space.
The registration comes after Revolut spent months relying on temporary permission to operate its cryptoasset business. The firm was among a dozen firms that received an extension to get their applications or affairs in order after a March deadline passed.
Read More: FCA Extends Key Crypto Deadline for Revolut, 11 Other Applicants
The London-headquartered firm now joins 37 other crypto companies granted permanent registration by the UK watchdog. More than one hundred firms had applied, with many pulling out or seeking European Union approval instead.
In an emailed statement, a FCA spokesperson confirmed that Revolut has received full registration as a cryptoasset firm.
“As with firms that were on the temporary register, firms that are on the full register are required to comply with the money laundering regulations,” the spokesperson said.
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